The Briefing Room
General Category => National/Breaking News => Topic started by: flowers on September 28, 2013, 06:22:16 pm
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http://finance.yahoo.com/news/lumber-liquidators-dives-govt-raid-222200210.html
Lumber Liquidators (LL) plunged Friday after federal officials raided the hardwood flooring retailer's Toano, Va., headquarters as part of a probe into possible illegal imports. But management told one analyst the company doesn't know why it's been targeted.
The Department of Homeland Security, along with the U.S. Fish and Wildlife Service, executed a sealed court-issued search warrant on Thursday at its Toano, Va., headquarters and at a Richmond, Va., store.
Lumber Liquidators shares tumbled as much as 11% Friday, closing down 5%. The stock had risen 114% this year amid a resurgent homebuilding market and remodeling upgrades by more confident consumers.
Management Floored
"I talked to their management 20 minutes ago and they were scratching their heads" as to why Lumber Liquidators was raided, ISI Group analyst Matt McGinley told IBD on Friday afternoon. "Nobody in the company knows what the scope and size of the investigation is. The only thing they know is the feds showed up and took documents," he said.
The flooring retailer, which operates more than 300 stores na tionwide, said in a statement that it would give investigators information and documents related to certain wood-product imports.
Lumber Liquidators said it gets products from more than 110 U.S. and international mills and has more than 60 people who monitor imports.
"The company takes its sourcing very seriously, and is cooperating with authorities to provide them with requested information," it said.
Further details on what Homeland Security was searching for were not immediately available. The company and government officials declined comment beyond initial statements.
The raid could involve the century-old Lacey Act, which requires U.S. companies to comply with other countries' laws when trading certain animal parts. Wood was added to the act in 2008 to try to curb illegal logging.
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"I talked to their management 20 minutes ago and they were scratching their heads" as to why Lumber Liquidators was raided, ISI Group analyst Matt McGinley told IBD on Friday afternoon
No need to be scratching heads, my friends. Just remember Gibson guitars. You are known to advertise on Conservative radio shows like Rush.
QED
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No need to be scratching heads, my friends. Just remember Gibson guitars. You are known to advertise on Conservative radio shows like Rush.
QED
That's the first thing that came to my mind. Obama is cleaning house...his house, or so he thinks.
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Uh huh...........
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My first thought as well.
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"...With Gibson, there was pretty good evidence they were targeted politically" after contributing heavily to Republican candidates, he said.
Reynolds noted that Lumber Liquidators is a sponsor for conservative talk radio host Rush Limbaugh. But the flooring retailer states on its website that it has never sought to run ads on the Limbaugh show specifically, but it works with an agency that places ads in certain markets."
http://finance.yahoo.com/news/lumber-liquidators-dives-govt-raid-222200210.html (http://finance.yahoo.com/news/lumber-liquidators-dives-govt-raid-222200210.html)
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But the flooring retailer states on its website that it has never sought to run ads on the Limbaugh show specifically, but it works with an agency that places ads in certain markets."
So what? That is where the ads run and so Lumber Liquidators, and anyone else who "accidentally" supports Conservative talk radio, or is thinking about doing so, must be taught a lesson.
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So what? That is where the ads run and so Lumber Liquidators, and anyone else who "accidentally" supports Conservative talk radio, or is thinking about doing so, must be taught a lesson.
Find out who the CEO is and what party he has donated money to... my guess it is more than his ads... but he is also donating to the GOP.
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No need to be scratching heads, my friends. Just remember Gibson guitars. You are known to advertise on Conservative radio shows like Rush.
QED
Also my first thought. Stupid dictatorial bureaucracy.
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Find out who the CEO is and what party he has donated money to... my guess it is more than his ads... but he is also donating to the GOP.
Actually, he held a fundraiser for Obama:
http://www.bizjournals.com/southflorida/blog/2013/06/why-obama-came-to-tom-sullivans-miami.html?page=all
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Lumber Liquidators also put the floor in Rush's new studio. They are after Rush, by way of anyone Rush benefits from.
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Issue BUY order Monday for LL
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Issue BUY order Monday for LL
Yes, let's buy shares in LL so that Sullivan can shovel more money to the DNC.
And I'd like to see a link to evidence that Rush used LL lumber was used on Rush's studio.
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Yes, let's buy shares in LL so that Sullivan can shovel more money to the DNC.
And I'd like to see a link to evidence that Rush used LL lumber was used on Rush's studio.
So easy to bait. Fish in a barrel. :silly:
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So easy to bait. Fish in a barrel. :silly:
Huh?
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Yes, let's buy shares in LL so that Sullivan can shovel more money to the DNC.
And I'd like to see a link to evidence that Rush used LL lumber was used on Rush's studio.
Well I can't give you evidence unless he has photos on his website [which I am not privy to anymore since I let my membership expire]...but he has said many many times when LL was a sponsor how they put floors down in his studio.....
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Well I can't give you evidence unless he has photos on his website [which I am not privy to anymore since I let my membership expire]...but he has said many many times when LL was a sponsor how they put floors down in his studio.....
OK. I'll take your word for it, since I listen to Rush less and less these days.
I'm sure Rush hangs with lots of high-dollar Democrat supporters though, so he likely doesn't care.
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Well I can't give you evidence unless he has photos on his website [which I am not privy to anymore since I let my membership expire]...but he has said many many times when LL was a sponsor how they put floors down in his studio.....
http://www.rights-right.com/t10631f12-Another-Republican-Supporting-Business-Raided-Suspicion-of-Using-Mongolian-Wood.html
Google is so easy...
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http://www.rights-right.com/t10631f12-Another-Republican-Supporting-Business-Raided-Suspicion-of-Using-Mongolian-Wood.html
Google is so easy...
You give me a quote from a blog?
The FACT is, Tom Sullivan, the CEO of Lumber Liquidators, supports Democrats and hosted a fundraiser for Obama just this summer.
Stuart Varney interviewed him on FBN and was shocked when Sullivan revealed his Obama connections.
Why would anybody care if Obama's regulators drove LL out of business?
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I'm guessing he isn't such a big supporter now.
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I'm guessing he isn't such a big supporter now.
LOL...yep
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No kidding. LL has a photo of Rush's studio right on their site.
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I think we're missing an equally disturbing aspect of this and the Gibson guitar story. The question should be what are the Feds doing raiding a company over wood flooring? for Pete sake! We've let the enviros run roughshod over American business. I know, Lumber Liquidators' wood floors are killing Mother Earth and we need the FBI and Fish cops to ride to the rescue and slap hand cuffs on some evil corporate planet rapers. I'm so sick of this. And let's not forget it was a republican, Nixon, who signed the law establishing the EPA. (Yes, and surely Mother Nature breathed a sigh of relief that day even before the ink dried...)
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Pretty obvious to me--and everybody else with the power of reason.
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And I'd like to see a link to evidence that Rush...hangs with lots of high-dollar Democrat supporters
Yeah, yeah, I know. He isn't going to answer. He never does. Heck, I am still waiting for his evidence from the ACU that Tom Coburn has the highest conservative rating in the entire Congress which has been asked 2 days in a row.
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The ACU isn't what it seems. Here's a list of the highest rated in the Senate for 2012:
The winners of the “ACU Conservative” award – given to those members who scored 80 percent or higher – in the Senate are: John Barrasso, Richard Burr, Dan Coats, Thomas Coburn, Bob Corker, John Cornyn, Mike Crapo, Saxby Chambliss, Jim DeMint, Mike Enzi, Lindsey Graham, Orrin Hatch, Jim Inhofe, John Isakson, Mike Johanns, John McCain, Jim Risch, Jeff Sessions and David Vitter.
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Only thing is, Happyg, Sinkspur claimed that Coburn has the highest conservative rating in the entire Congress.
Yes, he may be an ACU award winner but he isn't among the 7 highest who are at 100%. Faced with that Sinkspur changed his criterion to Coburn's average since he's been elected. Challenged to prove even that, he has become noticeably silent.
Wonder why?
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Only thing is, Happyg, Sinkspur claimed that Coburn has the highest conservative rating in the entire Congress.
Yes, he may be an ACU award winner but he isn't among the 7 highest who are at 100%. Faced with that Sinkspur changed his criterion to Coburn's average since he's been elected. Challenged to prove even that, he has become noticeably silent.
Wonder why?
I know. My point was who the ACU says have high ratings. How did Graham and McCain get on that list?
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I know. My point was who the ACU says have high ratings. How did Graham and McCain get on that list?
They probably vote for a lot of post offices and such..... /s